Kimberly-Clark Q1 Profit Falls

Sales rose 8% to $4.84 billion

Kimberly-Clark says high marketing costs and a charge related to Venezuela's currency devaluation sent its profit down 6% even as sales rose on higher prices.

The maker of Huggies diapers and Kleenex tissues says it earned $384 million, or 92 cents per share, during the quarter. That's down from $407 million, or 98 cents per share, last year.

Excluding a charge related to Venezuela's currency devaluation, net income totaled $1.14 per share. That missed analyst expectations by 2 cents.

Kimberly-Clark Corp. says sales rose 8% to $4.84 billion. The weaker dollar and higher selling prices helped revenue.

The company also is backing its full-year guidance.

Copyright 2010 The Associated Press.

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